Unsalable Inventory definition

Unsalable Inventory shall have the meaning set forth in Section 2.3(a)(iii).
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Unsalable Inventory means any item of inventory of Company ordered by Company prior to the Closing Date that Buyer has determined is unsalable in the ordinary course of business or must be discounted in order that it may be sold, in excess of the amount of Twelve Thousand Dollars ($12,000) of sales of Unsalable Inventory. Unsalable Inventory includes, without limitation, Discontinued, Short-Dated, Changed Package, and Excess inventory.
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Examples of Unsalable Inventory in a sentence

  • One hundred fifty (150) days after the Closing Date, Seller shall pay to Buyer an amount equal to the difference between (a) the value of the Unsalable Inventory as set forth on the Closing Balance Sheet and (b) the aggregate actual sale price received by Buyer during such period for the Unsalable Inventory, after giving full effect to any and all discounts, promotional allowances and any other sales incentives granted by Buyer in connection with its sales of such items of Unsalable Inventory.

  • Upon expiration of such period, the items of Unsalable Inventory then remaining in Buyer's possession shall automatically and without any further written evidence be deemed transferred to Seller.

  • For purposes of determining the amount of "the discounts customarily given by Company in the ordinary course of its business" under subsection (i) above, the discounts given by Company during 1995 in order to liquidate approximately $40,000 of Unsalable Inventory per month shall not be considered discounts in the ordinary course of Company's business.